Market Overview 'Market Recap' Week Ending August 30th, 2019


NEW YORK, Aug. 30, 2019 /PRNewswire/ -- Last week, U.S. markets faced a shaky week because of the ongoing tensions between the U.S. and China. However, on Monday, the Dow Jones Industrial Average rebounded by over 300 points after U.S. President Donald Trump said that China wants to return to the table for negotiations regarding trade matters. China's Vice Premier mentioned that the country would like to resolve the tensions through "calm" negotiations and not to further escalate matters. On Tuesday, optimistic investor sentiment carried over, causing the Dow Jones to gain 160 points at the opening bell, as investors and analysts continued to monitor trade matters. However, markets ended up closing lower by 120 points as hopes for a U.S.-China resolution faded and concerns over a global economic slowdown resurfaced. On Wednesday, U.S. markets tumbled over the yield curve's inversion early morning. However, markets quickly reversed throughout the day after investors looked past recession warning signals, gaining as much as 250 points. Then, on Thursday, U.S. markets surged after China said Beijing would not immediately respond to Trump's tariff hikes. The Dow Jones jumped by 360 points or 1.3% on a sign that the tensions between the two nations were easing instead of further escalating matters. A Chinese spokesman for the Commerce Ministry said that the new agenda should be removing the tariffs instead of imposing additional hikes. The official also mentioned that both parties were meeting next month to discuss matters. Nutanix, Inc. (NASDAQ:NTNX), Best Buy Co., Inc. (NYSE:BBY), Dollar General Corporation (NYSE:DG), Abercrombie & Fitch Co. (NYSE:ANF), Ulta Beauty, Inc. (NASDAQ:ULTA)

The U.S.-China trade tensions have caused global volatile markets, however, it seems now that the two parties are actively seeking to mend relations. While many investors are optimistic again about possible resolutions, some remained concerned because of previous negotiation fallouts. "The largely hopeful tones of the update from China has lifted market sentiment, and that sparked buying this morning," said David Madden, Market Analyst at CMC Markets UK, in a note on Thursday. "U.S.-China relations have been volatile recently, but for now there is a sense that things are heading in the right direction, and that has coaxed some traders back into the market."

Nutanix, Inc. (NASDAQ:NTNX) shares soared by as much as 28% after the Company reported better-than-expected quarterly financial results. For the fourth quarter, Nutanix reported earnings loss of USD 0.57 per share on revenue of USD 299.9 Million. Analysts expected earnings loss of USD 0.64 per share on revenue of USD 294 Million. Despite the earnings beat, Nutanix reported that its earnings loss increased compared to a loss of USD 0.11 per share a year ago. Additionally, revenue also fell compared to USD 303.7 Million a year prior. Nutanix's Software and Support segment reported revenues of USD 286.9 Million during the quarter, increasing by 7% year-over-year. Software and Support billings reached USD 358.7 Million, slightly down compared to USD 359.2 Million a year ago. For the next quarter, Nutanix expects to report adjusted earnings loss of USD 0.75 per share. 

Best Buy Co., Inc. (NYSE:BBY) reported its second quarter financial results before the market open on Thursday. The Company provided mixed results and a weaker-than-expected guidance, sending shares lower by 5.4% during pre-market trading hours. For the second quarter, Best Buy reported earnings of USD 1.08 per share on revenue of USD 9.54 Billion. Analysts expected earnings of USD 0.99 per share on revenue of USD 9.57 Billion. The increase in domestic revenue was driven by a 1.9% growth in comparable sales ad revenue from Best Buy's GreatCall acquisition in the third quarter of fiscal 2019. The Company highlighted that its major growth drivers were appliances, tablets, headphones and services. However, the segments were partially offset by declines in Best Buy's gaming and home theater segments. As for the remainder of the year, Best Buy expects to report earnings between USD 5.60 to USD 5.75 per share on revenue in the range of USD 43.1 Billion to USD 43.6 Billion. Moreover, comparable sales growth is projected to fall in between 0.7% to 1.7%. 

Dollar General Corporation (NYSE:DG) reported its second quarter financial results during pre-market hours on Thursday. The retailer reported better-than-expected earnings and revenue, sending shares surging by 7.1% at the opening bell. For the second quarter, Dollar General reported earnings of USD 1.74 per share on revenue of USD 7.0 Billion. Analysts expected earnings of USD 1.57 per share on revenue of USD 6.89 Billion. Same-store sales increased by 4.0% due to increases in both the average transaction amount and customer traffic and also driven by the growth in Dollar General's consumables, seasonal, and home categories, but partially offset by its apparel category. For the remainder of the fiscal year, Dollar General expects revenue growth of approximately 8% compared to its previous expectations of 7%. The Company projects same-store sales growth in the low-to-mid 3% range, revised from its previous estimates of 2.5%. Lastly, Dollar General expects earnings in the range of USD 6.45 to USD 6.60 per share.

Abercrombie & Fitch Co. (NYSE:ANF) reported its second quarter financial results before the opening bell on Thursday. Abercrombie shares tumbled by 15% after the Company cut its full-year expectations because of tariff impacts. For the second quarter, Abercrombie reported earnings loss of USD 0.48 per share on revenue of USD 841.01 Million. Analysts expected earnings loss of USD 0.52 per share on revenue of USD 852.32 Million. The Company reported its revenue declined by 0.2%, while comparable sales growth remained flat compared to a 3% growth last year. For the remainder of the fiscal year, Abercrombie expects to report revenue growth between flat to 2% and comparable sales growth in the range of flat to up 2%. Abercrombie also mentioned that its estimates would be impacted by China's tariffs. The Company noted that the tariffs would impact its full-year gross profit rate by 60 basis points, while its third quarter gross profit rate is expected to be impacted by 90 basis points. 

Ulta Beauty, Inc. (NASDAQ:ULTA) reported its second quarter financial results after the closing bell on Thursday. The beauty retailer after missing estimates and warning industry-wide sales headwinds. For the second quarter, Ulta reported earnings of USD 2.76 per share on revenue of USD 1.67 Billion. Analysts expected earnings of USD 2.80 per share on revenue of USD 1.68 Billion. Comparable sales for the quarter increased to 6.2% compared to 6.5% the same quarter a year ago. Due to anticipated industry-wide sales headwinds in cosmetics, Ulta revised its guidance for the remainder of the fiscal year. For fiscal 2019, Ulta expects to report diluted earnings between USD 11.86 to USD 12.06 compared to its previous range of USD 12.83 to USD 13.03. Ulta expects revenue to increase between 9% to 12% versus its previous expectation of a low double-digit growth. Comparable sales are projected to fall between 4% to 6% compared to Ulta's prior estimates of 6% to 7%. 

Subscribe Now! Watch us report LIVE

Follow us on Twitter for real time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit:

For further information:
Media Contact: 

Cision View original content:


View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at